Vertical Lift Module Market
Vertical Lift Module Market By Type (Non-Refrigerated, Refrigerated), By Configuration (Internal Bay, External Bay), By Maximum Load Capacity(Below 20 Tonn, 20 Tonn to 40 Tonn, Above 40 Tonn), Region - Global Market Forecast 2020-2030
With surge in automotive dealerships and expansion of manufacturing sectors, the demand for cost-effective, fast and safe storage and distribution solutions is increasing rapidly. In order to overcome the challenges related to efficient storage and distribution solutions, various manufacturing segments are getting inclined to automated vertical storage systems. According to Fact.MR, the global vertical lift module market is anticipated to exhibit above 8% CAGR during the forecast period from the year 2020 to 2030.
Due to the fast evolving ecommerce and logistics sectors, the requirement for cost optimized automated pick up and distribution solutions are increasing significantly. Furthermore, the global urbanization has resulted in increased demand for various retail and ecommerce services including doorstep deliveries which has expanded the warehousing and logistics segments even further. Being a key end-user industry, expansion witnessed in logistics sector is aiding to the exponentially growing market demand.
Though the recent outbreak of novel coronavirus has slowed down the market growth temporarily for decreased demand, economical constraints, non-operational manufacturing units during lock down, and other factors, the global market is expected to grow steadily in the coming years.
Vertical Lift Module Market by Type
In terms of refrigeration type, the vertical lift module market is segmented into non-refrigerated and refrigerated types. Non-refrigerated vertical lift modules are widely required by the dominating end user industries such as automotive, aviation, heavy metallic machinery equipment manufacturers, and others. As these key end-users require cost-optimized and efficient storage and handling solutions for goods without any temperature-controlled environment, they prefer non-refrigerated vertical lift modules.
With the fast evolving key end-user industries, the non-refrigerated vertical lift module market is anticipated to witness impressive growth during the forecast period.
Vertical Lift Module Market by Load Capacity
By load capacity, the vertical lift module market segments are below 20 tons, 20 tons to 40 tons, and above 40 tons. As below 20 tons vertical lift modules are most versatile in terms of usage in small to medium retail sectors, automotive equipment manufacturers and others key end-use segments, it has emerged as the leading category by load capacity.
As this type of vertical lift modules are cost-effective and can be used in broad range of applications starting from healthcare to aviation, they are hugely preferred across the globe.
According to Fact MR, the vertical lift module market with load capacity below 20 tons will continue dominating through the forecast period.
Vertical Lift Module Market by Configuration
In terms of configuration type, vertical lift module market can be categorized into internal bay (single & dual) and external bay (single & dual).
Internal bay vertical lift module is the most suitable solution when space constraints are there. Added to this, this type of vertical lift modules are cost-effective, quick, saves floor space, and comes with increased productivity and picking accuracy.
According to Fact MR, the internal bay vertical lift module market will remain in the key position during the forecast period.
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Regional Outlook: Vertical Lift Module Market
North America, backed by the presence of several well-established end-use segments such as automotive, ecommerce, logistics, aviation, and others, is leading the global vertical lift module market. Technical advancements, coupled with the expanding ecommerce, retail, and logistics sectors in the developed countries such as the U.S, the U.K, Canada, and others are propelling the market growth steadily. The North America vertical lift module market is anticipated to prevail in the dominant position throughout the forecast period.
Europe is the second leading vertical lift module market among all the global regions. The well-developed automotive segments coupled with the increased demand for various ecommerce and retail products among the major population is spurring the Europe vertical lift module market growth. As the leading European countries such as Mexico, France, Italy, and others are evolving fast in terms of broad ranges of end-users, the Europe vertical lift module market is forecast to steady growth in the coming years.
Driven by recent technical advancements coupled with the rising demand for various automotive and heavy metallic machinery products, Asia Pacific vertical lift module market holds high potential to expand further in the coming years. With the developing manufacturing industries, government investments, and increased consumer demand, in the countries such as India, China, Japan, ASEAN, and others, the Asia Pacific market demand curve is rising upwards. According to Fact MR, the Asia Pacific vertical lift module market is expected to witness highest growth rate during the forecast period.
Vertical Lift Module Market: Key Players
The global vertical lift module market is expanding fast, creating ample of opportunities to the key market players. In order to capitalize on the market potential, some of the top companies such as
Hanel GmbH & Co. Kg
Weland LargerSystem AB
EffiMat Storage Technology A/S
Daifuku Co. Ltd.
Kardex Group (Remstar)
Systems Logistics SPA
Schafer Systems International, Inc.
Ferretto Group SP.A.
and others are opting for strategic methods to gain competitive advantage.
For instance, Hanel GmbH & Co. Kg has launched their broad range of high-tech automated solutions such as Hanel Rotomat® industrial and office carousels, the Hanel Lockomat® and the proven Hanel Lean-Lift® and Multi-Space® vertical storage systems supporting inventory transparency for maximum efficiency.
EffiMat Storage Technology A.S has released their exclusive ClassicMat™ ensuring efficient storage optimization along with exceptional picking speed, and ergonomic picking height.
As the global vertical lift module market is set to expand further, the key market players are expected to experience tough competition during the forecast period.
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The Analyst’s Viewpoint
“With the growing Automotive sectors as well as heavy machinery manufacturing industries, the requirement for cost-optimized, fast, and safe picking and storage solutions is increasing rapidly. Vertical lift module market, being highly efficient in meeting all this criteria, is gaining traction all over the world which is projected to grow further during the forecast period.”
COVID-19 Impact on Vertical Lift Module Market
The recent COVID-19 pandemic has temporarily slowed down the market growth due to lesser demand from end-users, non-operational manufacturing units during lock down, scarcity of raw materials, unavailability of labors, economic crisis, and other factors.
Furthermore, the ecommerce and retail sectors as well as the logistics industries have faced difficulties due to decreased demand among the consumers. As a result the vertical lift module market demand has been declined all over the world.
Despite the restraining factors caused due to COVID-19 pandemic, the global vertical lift module market is anticipated to grow further during the coming years.
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Vertical lift module Market: About the Report
Fact.MR has published an exclusive forecast report on the vertical lift module market for 2020 and 2030. The foremost objective of this report is to offer spearhead insights on the market scenario, demand generators, and technological advancements into the market. Also, the study addresses key dynamics that are expected to diversify the sales and future prospects for the market.
The report on the vertical lift module market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the vertical lift module market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key factors favoring investment within the market.
Supply chain analysis and pricing analysis of the market, along with the difference between vertical lift module used as per application, have also been included in the report, to help readers clearly understand the product framework map in the market.
Vertical Lift Module Market: Segmentation
Fact.MR has studied the vertical lift module market with detailed segmentation on the basis of type, capacity, configuration, and key region.
|Maximum Load Capacity||
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
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